There are over 126 million households in the United States.
The dream of most adults is to own a home one day. While this may seem like a relatively easy task it is anything but. With all of the different housing options out there, you will need to do an extensive amount of research to find the right one for your family.
Investing in model or tract homes can be a good thing. Generally, these homes are constructed very well and feature a number of functional and appealing upgrades.
Read below to find out more about the pros and cons of purchasing a model home.
Pro- These Homes Have a Number of Extra Features
Generally speaking, a home builder will put their best materials and upgrades into their model homes. Builders will do this in an attempt to entice buyers and show off their skills.
If you invest in buying this model home, you will be able to get all of the best features a builder has to offer. In most cases, the other homes in a community will not look nearly as good as the model home. When looking for new home construction with some added perks, a model home is definitely the way to go.
Pro- A Large Floor Plan
Not only will model homes usually have the best features a builder offers, they will also have larger floor plans. Builders know they will have many different investors touring their model home, which is why they try to make it bigger and more spacious.
Before you invest in a model home, be sure to do your homework. Getting a feel for how much a builder is going to charge is essential. Once you have this information, you can compare this price to similar homes in the area. Doing this will allow you to figure out whether or not you are getting a good deal on the model home.
Con- A Rushed Construction
One of the main disadvantages that come with buying a model home is the fact that construction on these structures is generally rushed. A builder will want to get this model home up so they can start selling other homes in the neighborhood.
In some cases, this rush to get done will cause mistakes to be made. This is why having a home inspection look over a model home thoroughly before a purchase is made is essential. They will be able to alert you to any issues that may be present.
Pro- The Power of Bargaining
When you buy a model home, you will usually have a bit more bargaining power to work with. Using the fact that the home is somewhat used as a bargaining chip can save you a lot of money.
If you need help with these negotiations, consulting with a real estate agent is a must. They will be able to look at this situation objectively and provide you with the advice you need to get a great deal.
Regardless of what type of home you purchase, rushing through the buying process is a bad idea. The time you put into researching all of the housing options in your area will pay off.